German zew survey drops sharply

By IBT Staff Reporter On 06/15/10 AT 5:18 AM

German zew survey economic sentiment dropped sharply in June to 28.7 from 45.8, below estimates of 42.0. The current situation reading came in at -7.9 relative to the prior -21.6 and median estimates of -15.0.

In the euro area, zew survey economic sentiment for the same month slipped to 18.8 from 37.6, lower than forecasts of 39.0.